thingsbike - I think it depends on what shape the bike is in, how serious you are, and how much it will cost to get it running smoothly. I assume you have downtube index shifters and will need a fresh set of tires and a tune up. How many miles are on the drive train ? Ride it for awhile and if you get more serious, use it as a beater back-up. I had a 1988 Cannondale 3.0 that I have used as a 2nd back-up beater. I loaned it to my brother-in-law a few years ago and he loaned it to someone else.